Uday Dave

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Thursday, 29 June 2017

Expiry day. Opened CT full gap up. There should not be any hesitation to trade this BPB setup after such an open. On expiry days, RNs and BRNs are very significant levels. A short trade as marked was possible on prices breaking below RN in the afternoon. Same way a long trade could have been attempted at BRN.

The third trade as marked is not per the DP system. If you remember, on last expiry I shared my observation with all of you. Click here if you are not aware of it and read the last paragraph. So the third trade was an attempt to catch the final move that it makes at 3 pm on expiry days.

In trading, we always learn from other traders and from our own observations that we make (i.e. from markets). I made this observation of how prices move typically on expiry days and earned 30 points per lot today from that observation. If you are also making your own observations like this, keep sharing with others.

Today RN 9550 was a level where prices traded above and below it. First prices got accepted above it, traded for a while, then got rejected. After that prices were not able to cross it. Now just before 3 pm. prices are very close to that level. If the prices decide to make a final move at 3 pm, what would it do? It would either try to cross it or reverse from there. So you need to place two orders, one above RN for long trade and one as I marked for short trade. Then just wait and let markets make its final move.

About me and this blog in brief

My name is Uday Dave. I am a full-time day trader, blogger and day trading educator. I mainly day trade Nifty, Bank Nifty, stocks and stock options and in the evening if I get time I trade MCX Crude Oil, Nickel and Silver using a 3-minute candlestick chart with Decision Point Trading System and price action trading methods. My only aim is to capture small moves, i.e. 20 to 25 points in Nifty and around 50 points in Bank Nifty daily.
I started this blog in year 2012 to record my trades, observations, experiences and to share them with other aspiring traders. I hope with all your support I will be able to continue to maintain this blog and improve further.